Fallout from the FTX has forced WEB3 brands and projects to fight for their legitimacy

Inamedinova recently released a statement stating that fallout from the failed cryptocurrency exchange FTX has forced Web3 brands and projects to fight for their legitimacy. She added that the Web3 brands have the more formidable task of convincing the regulators. Through these statements, we can clearly understand how negatively FTX’s collapse has impacted the crypto industry and WEB3 brands.

WEB3 brands have a new issue

Laura K. Inamedinova, a popular Web3 marketer, said that initially, the Web3 brands used to focus on community management and the public’s perception. However, after the crypto exchange FTX collapsed, these brands and projects needed to switch to arguing with the people for their reputation and legitimacy. 

She added that even if the WEB3 brands or companies did not have any direct connection with the FTX, they have started to feel compelled to address concerns about the security and reliability of their upcoming projects. 

Inamedinova also pointed out that the WEB3 players have a more difficult task of convincing the regulators, and this is not the case just with the new brands but also with the old ones, which have been in this industry for a long time. 

She clarified that the FTX collapse greatly impacted the reputation even for legitimate business or web3 projects. Lastly, she added that due to the fallout of the FTX, we could expect more strict laws and regulations for the crypto exchanges to improve security and project reliability. 

Updates on FTX collapse

When Inamedinova was asked about the SBF and other roles in handling the crisis from a public relations perspective, she said that the whole situation was a disaster from the beginning to the end. 

She mentioned how the SBF trial goes, and the outcome of the court will mainly decide the impact of FTX collapse on the crypto and WEB3 industry. Inamedinova also said the verdict would be fair if the court proceeding went right. However, she thinks that the process may be dragged out. 

What are your thoughts on the statements of Laura K. Inamedinova regarding the security and reliability issue for WEB3 brands? What do you think will the court’s outcome be for the SBF trials? Let us know in the comments below. And, if you found our content informative, share it with your family and friends.

Also Read: FTX employees paid Michigan senator to get favourable crypto laws.